Question 1024719: There are five envelopes in a box. One envelope contains a penny, one a nickel, one a dime, one a quarter, and one a half-dollar. A person selects an envelope. Find the expected value of the draw
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! There are five envelopes in a box. One envelope contains a penny, one a nickel, one a dime, one a quarter, and one a half-dollar. A person selects an envelope. Find the expected value of the draw
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E(x) = (1/5)(1+10+25+50) = (1/5)(86) = 17 1/5
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Cheers,
Stan H
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